MONEY MARKET STRINGRNCY.

Dominion, Volume 5, Issue 1456, 3 June 1912, Page 4

MONEY MARKET STRINGRNCY.

.::, ■ : :'V :•:■., , ' : - >"'• ■'■;.,.■'.'">fl S'JR J'OBEPIT W,AIvI):BLAMEIJ!;-i;/|| IBy j'cteßrap'hT-'B'pcci'al i^rreJEondcnt.)^!;. 'PiiiMand i ':.luiif'i::i' : : :Owiiig; to' tl!e.;all : i-oinul^inir(|aseVjn; ? th«/ .bank ivifes; tlie ■lOi'iiant^Coni'ii/ittee'ofiths} ■./~an(l:' : .(/fty'.Coiincjii! ■■has'- decided-; to, '.[ilface tii'e .Xls,OoQ : tii"'!imViriq!instir,eiiiaining: trr lie; flfiate'ii ai'-'.ii;-. pt-r;.?coiit;i ;iirstead"- ; 'ot; ■ii't i per cen't. j6 as" '■o'rigiiia'll'y linU-ndedv ■:!J!hp. Mayor X : ; th:i): :thjs caiiipariitiyely sininiilHlarictfiWill; ■Tcadjiy 1)0' ?lai!(Us ; pi:qbaljly ! tlie'beit{s«cur,itynniXcw : Zealaifd'. .Ho points a. "Becuri'ty for tnifsfi nionOyJ. rn, the? /fact that it .'liioftgoge tax and'.no .exiieiiwj In 'other /wont* jt :represents;ia;V'ip;per. .'■jcentj net invx'Htinen.t: ', )■■/';; iviSSfissS^

Mpi;tgage;'lei.!derStaf6' v hqiy;.asking/5 ;oeiit. iiis!<;ad j)f formerly.: The; :fact Hia.t ; :t;ie : :Anpkliin<laGßs:iCo!n-; ■pa'uy'iS'•inviting tchd'er'siforXan 'issuoJof; ■ffb'iiV to/- iSO.OO^wor.thfof f : dcl»hi ! turesV'bearing. - ; iiiteiest : ;;;';'at;/s,spef •shbuid: -iiofc''bo/llpst'.sight;cf' in connection; /iyith'; flio /higher '■ra'tcs'^'now;./ otterings in; otKc.p./direc't'ipns'i ..' Tenders'.forMhishssue: of.: IS. V5//':-/•/

: ''"inquiries 'TOro'riVadesiivhfinnncudibireles; .-on' ;Satiirday,;as;'.tq"'the";cause'iofj,the ;inT; interest : pa'yiibl6.;i!pon: ;, /-s-.lt> that'the ;ma'iir'reas6n';'for'thlss'dccision'is,an effort ''.'{o'.-cHecli'-th'o.'-oiitflp\v;-'cf'capital'from the 'c.oan.lTy;. ' lt':alsc:> signifies,; an endeavour ;to -lecure-Jarger.' I 'dcp'psits.;for;the;."banks. frhi:.: .'c'oiitinn'ed-'.;drain; on'i.''tho'-'.' finances of ■ fact-that '.thG7'.DbminibirHmpqrts ; s6'far.exceeC:'-. *x-■porisUhat.-'an' '.ndvahce Ja-intei;est; is, necessary Vto^pm ; eiitJit;^j^p-:.5?- ! PSS' J '■:';> ' -

' , -AiV6.tli<ff-' , that the he'gle'ctJ'bf'.SirV: Joseph-'Ward;: to< complete -.the; negotiation's.?'f6r-vldans-:,arnbunting - to I^Ei;ooo,OqOSaftep;lie?liad:;seeu; the results of ;tl^/firs^ ; b'al!ots:!;aWhe' last' general election.' :h;is-.fcai?se^;i;tli'& ; ;tightness.o;.un " the .nion«.y.;niarlcetV:- '-"itldsl-.considcrcd- in somo ; 'fl'uar.t6r.sVyia.(i.-tb , is l ;isi.flt.ithe root.of-the. 'matter, :;a^id : advances "'.:;*;-.;''..--;. »j

in-sonie quar-■■terg°,as'i-.tp'rv:lictli«r"'tlu.s. increased interest llxed would cause a' cb!;r'uspbiVding ; increase; in the; rates of in- ■ ascertained tliatj- oßlibughv.it; notnhave-ithis. .■direct;.en'ec't^it';!jyojild:vten : d;;toLdp so, and )tliatj;ariAiricrease;. i onSpyerdrafts;.is['not-im-\ ! prbbab!eiin-tli3;hear^u!iure.: : .,;^...\